Live Large Buying Used

Planning to buy a new car? Buy a good, used 2 year old car, instead. You will still have a nice car, and save the
thousands of dollars in depreciation that affects new cars the minute you drive them off the lot (around 40% depreciation). Take that savings and invest it. Just $2000 saved, and wisely invested over a 30 year period could add up to $50,000 to your net worth. Add to that the savings from lower insurance premiums on the older car and your net
worth can rise even more. Remember- a car has only one function- to get you from point A to point B. If you need the ego boost or status of a brand new car - or a luxury car - you will pay dearly for it in your overall net worth. You have a choice - put as much money as you can into appreciating assets such as stocks or real estate, and grow
wealthy, or sink your cash into depreciating assets such as cars and boats, and watch your dreams of wealth fade away. Time enough to get those toys once you've reached your wealth goals.